Reasonable Attorney Fees?

Posted March 25th, 2008 by Joe Kaiser

What, you never heard of an hourly rate?

Dear Rob,

It’s not surprising that when attorneys get together to write laws, they make sure their paychecks are covered.

How else would you explain the language in HB 2791 dealing with fair attorney fees when suing investors doing foreclosure rescues?


The lodestar method

Here, apparently, is what your office has decided is fair . . .

“Reasonable attorney’s fees”, where authorized in this chapter, means an amount to be determined including the following factors: The time and labor required, the novelty and difficulty of the questions involved, the skill requisite to perform the legal services properly, the fee customarily charged in the locality for similar legal services, the amount involved and the results obtained, and the experience, reputation and ability of the lawyer or lawyers performing the services.


Okay, fair enough

While we’re at it, lets talk about what investors deserve, in terms of profit, for providing services to people in foreclosure. I suggest we just use your model . . .

“Reasonable profits,” where earned in stopping foreclosures, means an amount to be determined including the following factors: The time and labor required, the novelty and difficulty of the questions involved, the skill requisite to perform the rescue services properly, the fee customarily charged in the locality for similar foreclosure rescue services, the amount involved and the results obtained, and the experience, reputation and ability of the investor or investors performing the services.

I’m guessing your staff considers the notion these services should be similarly valued as abhorrent, and therein is the problem.

We provide a good and valuable service that because of your twisted views, you obviously cannot see.

Still, that doesn’t change realty. We’re investors. We’re the ones who write the checks that stop foreclosure and we deserve to be rewarded for the value we bring to the table.


Rescue me

Today, as you well know, Terry M. is in his home, as are Jack J. and Joe F. and Randy D. and George N. and John M. and Art V. and Barbara W. and David M. and Steve G. and all the rest I rescued from foreclosure.

They’re in their homes because someone you’re suing had the skill requisite to flat-out get it done.

Time?

Check.

Labor?

Check.

Novelty and difficulty of the questions?

Check. Check.

Experience, reputation and ability?

Check. Check. Check.

Or, do you seriously believe attorneys are somehow more deserving than real estate investors?

No need to answer . . .

In the arena,

Joe Kaiser


3 Responses to: “Reasonable Attorney Fees?”

  1. loya responds:
    Posted: March 26th, 2008 at 9:53 pm

    Well put…………….

  2. anemonehead responds:
    Posted: March 28th, 2008 at 1:03 pm

    Yeah, but you’re not a member of the snooty nose attorney’s club!

    What the hell makes you think that you should be able to make just as much if not more than them? Just because you know the laws regarding your business better than 99% of the lawyers that work the same arena? Just because you can get it done with minutes to spare, save the day and take all the risk?

    What the hell are you thinking Kaiser? ;o)

  3. DaveD responds:
    Posted: April 8th, 2008 at 8:40 am

    How reasonable are attorney fees where one State wins a tobacco lawsuit (for the children, of course), then the next State takes pretty much the same claim form, rubber stamps it, and shakes down the same tobacco company for another 50 million settlement?

    Rubber stamping is a lot of work, you know. Which is why the attorneys for that second state rake in anywhere from 15% to 33% of the booty.

    Then, onto the third, fourth, and fifth states… Nice work if you can get it, and those attorneys who get it are politically connected to the State’s AG. Yep, real nice work if you can get it.


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